Buying vs. Leasing

Having trouble deciding whether to buy or lease a new Honda Accord? There’s quite a big difference between leasing and buying, and it’s important for Sussex drivers to understand the pluses and minuses of each, along with their unique driving demands when making a financing choice.

What It Means to Lease a New Car

If you choose to lease a new Honda Civic, you can look forward to:

  • The trendiest cars with the latest technology, as you can trade in for the newest models at the end of your lease term rather than driving the same car for 10 years.
  • Little to no down payments, along with lower monthly payments.
  • Less likelihood of major system issues, and warranty coverage if there ever are any.

However, drivers will experience some disadvantages with leasing. They’ll have to grapple with mileage limits, for example, as well as restrictions on car customization. Plus, there are fees involved with excessive wear and tear.

2018 Honda CR-V interior seats

What it Means to Buy a New Car

There are plenty of advantages to purchasing a new Honda CR-V, too:

  • Gaining equity with each loan payment, and ownership once a loan is paid off.
  • Freedom to drive as much as you want, whenever you want, and customize your car as you please.
  • Access to loans regardless of your credit history.

Even so, there are some downsides to buying. Your vehicle will experience significant depreciation as soon as you drive off the lot, for instance. You also will have higher monthly payments, and need to put down a larger down payment.

2018 Honda CR-V driving at night


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